At the 2024 World Defense Show in Saudi Arabia on Monday, Hyundai Rotem's defense solutions business unit head, Lee Jung-yup (eighth from left), and LIG Nex1’s overseas business manager, Lee Hyun-soo (ninth from left), formalized a defense export cooperation agreement aimed at the Middle East market. This collaboration targets surging demand for modernized defense capabilities in the region, strengthening the global footprint of Korean defense technologies. Hyundai Rotem has showcased

SK hynix, the world's second-largest memory chip maker, on Tuesday announced that it would increase its proportion of materials accounted for by recycled materials to over 30 percent by 2030. The target, as part of the company’s carbon neutrality goal, is the first of its kind set by a semiconductor maker. Under the plans, the company aims to first increase recycled material usage to 25 percent by 2025. The company said the target is a part of its plans to implement its carbon neutral

A Seoul court acquitted Samsung Electronics Chairman Lee Jae-yong of all charges related to a 2015 merger fraud case on Monday, clearing the path for the country's biggest tech giant to push forward with investment for future technologies. In the final verdict handed down at 2:55 p.m., judges at the Seoul Central District Court found Lee and 13 other defendants -- former executives of Samsung -- all not guilty. The court dismissed the allegations proposed by prosecutors, who claimed that Lee and

On-device Galaxy AI holds potential for expansion; A. is optimal choice for iPhone users in Korea

S. Korean automaker’s India subsidiary valued at between $25b and $30b

Broadcasting watchdog chief said Monday that scrapping the controversial handset subsidy ban can provide "greater benefits" to consumers as the removal would boost competition among mobile carriers to lower smartphone prices to sell more. "The Mobile Device Distribution Improvement Act was legislated in 2014 to resolve excessive competition. As time passed, however, the act limited the local telecom carriers' competition and caused the cost of smartphones to become even more

GNT Pharma said Monday that the company has signed an agreement with Pfizer's contract manufacturing arm for overseas production of the company’s veterinary medication GedaCure. Under the recent agreement, Pfizer CentreOne, which has production facilities in around 30 countries, will provide GNT Pharma with CDMO services in the countries, including the US and Europe, where GNT Pharma launches GedaCure. GedaCure is a chewable tablet of crisdesalazine and the world’s first multi-t

Hahn & Co., the nation's largest private equity firm based on assets under management, launched a bid on Monday to take full ownership of cement producer SsangYong C&E, offering over 700 billion won ($525 million) for the shares it does not hold. Hahn & Co. will offer 7,000 won per share for the cement producer to secure an additional 20.1 percent stake in the company, spending 701.8 billion won, according to an announcement made through regulatory filings from its special purpo

LS e-Mobility Solutions’ Durango site capable of producing 4m EV relays, 5m battery disconnect units

Lotte Global Logistics' new CEO Kang Byoung-ku pledged to take its logistics networks to a new level for oversea expansion while tapping into cross-border e-commerce business on his first day in office. “I promise to establish Lotte Global Logistics as a leading company in the global logistics industry through challenge and innovation,” said Kang during his inauguration speech on Friday. To achieve this, Kang outlined four key strategies. Kang emphasized a focus on differentiati

ABU DHABI -- Miky Lee, vice chair of CJ Group and its entertainment and media subsidiary CJ ENM, has won this year’s Abu Dhabi Festival Award, a top honor offered to individuals in recognition of their outstanding contributions to culture and the arts. The Abu Dhabi Music & Arts Foundation held the award ceremony in the UAE capital Saturday. Lee attended the event in person to receive the award. The annual award, inaugurated in 2012 by the foundation in association with the Swiss luxur

A Seoul court is set to deliver its ruling on Samsung Electronics Co. Chairman Lee Jae-yong on Monday on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. The Seoul Central District Court is scheduled to hold a sentencing hearing at 2 p.m. on Lee, three years and five months after the Samsung chief was indicted in connection with the merger of Cheil Industries Inc. and Samsung C&T Corp. Lee was charged with stock price r

HD Korea Shipbuilding & Offshore Engineering Co., the world's top shipyard, has already achieved nearly one-third of its yearly order target on brisk demand for green vessels, industry sources said Monday. So far this year, the shipbuilder has clinched $4.65 billion worth of orders to construct 38 ships, or 34.4 percent of its yearly target of $13.5 billion, according to the sources. In light of the faster-than-expected pace, HD Korea Shipbuilding, a subholding company of shipbuilding,

South Korean dietary supplements manufacturers are accelerating their entries into the growing Chinese market as the number of elderly people continues to increase in the country, according to industry sources on Sunday. On the back of an aging population, the Chinese dietary supplements market grew 3 percent on-year to reach around 73 trillion won ($54.5 billion) in 2022, according to a report released by the Korea Trade-Investment Promotion Agency. Among Korean companies, Korea Ginseng Corp.,

General Motors will release four new vehicles in South Korea this year including two electric vehicles as the global automaker looks to expand its presence in the local market, GM's Korean office said Friday. "We plan to strengthen GM’s presence in the fiercely competitive domestic market and meet the needs of those seeking the unique American product experience and new lifestyle that only GM can provide by expanding our comprehensive range of products," said Hector Villarre